Debt / Worth Ratio. Borrower shall maintain a maximum ratio of Debt/Worth of 350%. The ratio "Debt/Worth" means Borrower's total liabilities divided by Borrower's Net Asset Value (as defined above). This required ratio must be maintained at all times and may be evaluated quarterly.”
Debt / Worth Ratio. At any time, permit the ratio of Consolidated Debt to Consolidated Effective Tangible Net Worth to be greater than 1.0 to 1.0.
Debt / Worth Ratio. Maintain a Debt/Worth Ratio, of not more than 6.00:1.00 at all times.
Debt / Worth Ratio. The ratio "Debt / Worth" means Borrower's Total Liabilities, excluding subordinated debt, divided by Borrower's Tangible Net Worth.
Debt / Worth Ratio. Borrower to maintain a maximum ratio of Debt/Worth of 2.50 to 1.00. The ratio “Debt/Worth” means Borrower’s total liabilities. excluding debt subordinated to Lender, and divided by Borrowers Effective Tangible Net Worth This ratio must be maintained at all times and may be evaluated quarterly. The term “Effective Tangible Net Worth means Borrowers total assets excluding all intangible assets (I.e. goodwill, trademarks. patents, copyrights, organization expenses, and similar intangible items) and excluding due from related entities (eg. affiliates, employees, subsidiaries, shareholders. etc.). less total liabilities excluding debt subordinated to Lender.
Debt / Worth Ratio. Borrower's covenant to maintain a ratio of Debt/Worth not in excess of 3.000 to 1.000 will be evaluated semi-annually.
Debt / Worth Ratio. At any time, permit the ratio of Consolidated Debt to Consolidated Effective Tangible Net Worth to be greater than 0.9 to 1.0.
2.1.3 Exhibit "F" to the Credit Agreement is amended to read as attached hereto.
2.2 Each of the Loan Documents is modified to provide that it shall be a default or an event of default thereunder if Borrower shall fail to comply with any of the covenants of Borrower herein or if any representation or warranty by Borrower herein is materially incomplete, incorrect, or misleading as of the date hereof.
2.3 Each reference in the Loan Documents to any of the Loan Documents is hereby amended to be a reference to such document as modified herein.
Debt / Worth Ratio. Maintain a ratio of Debt/Worth not in excess of 0.750 to 1.000. The ratio "Debt/Worth" means Borrower's Total Liabilities divided by Borrower's Tangible Net Worth.
Debt / Worth Ratio. Borrower shall at all times maintain a consolidated total liabilities, including debt fully subordinated to the Loan, to Consolidated Tangible Net Worth ratio of not more than 0.50 to 1.00. For purposes of this computation, "Consolidated Total Liabilities" shall mean all liabilities of Borrower and its Subsidiaries, including capitalized leases and all reserves for deferred taxes and other deferred sums appearing on the liabilities side of a balance sheet of Borrower and its Subsidiaries, in accordance with GAAP.
Debt / Worth Ratio. The ratio "Debt / Worth" means Borrower's Total Liabilities, excluding subordinated debt, divided by Borrower's Tangible Net Worth. BORROWER: NIKU CORPORATION By: Xxxxxx Xxxxxx, Chief Financial Officer of Niku Corporation LENDER: MID-PENINSULA BANK By: Authorized Signer PROMISSORY NOTE—Asset Based Loan Agreement Borrower: Niku Corporation 000 Xxxxxxxxxx Xxx Xxxxxxx Xxxx, XX 00000 Lender: Mid-Peninsula Bank Palo Alto Main 000 Xxxxxx Xxxxxx Xxxx Xxxx, XX 00000
